Air Products Inks Multiple Deals That Boost Presence in Asia; New Investments Build on Company's Position as a Leading Gas Suppl
February 11 2004 - 8:00AM
PR Newswire (US)
Air Products Inks Multiple Deals That Boost Presence in Asia; New
Investments Build on Company's Position as a Leading Gas Supplier
in Asia LEHIGH VALLEY, Pa., Feb. 11 /PRNewswire-FirstCall/ -- Air
Products , a leading supplier to the Thin Film Transistor-Liquid
Crystal Display (TFT-LCD) and semiconductor markets in Asia, today
announced a number of new investments that will create new capacity
and augment existing capabilities for several of its major
electronics customers in Korea. Korea Industrial Gases (KIG), a
wholly owned subsidiary of Air Products in Korea, paved the way for
the recent investments. Specifically, the company announced that
KIG has: -- Completed the commissioning of its third nitrogen air
separation plant that feeds the Gumi pipeline network in Korea. The
pipeline network supplies over 30 customers in the greater Gumi
area, some of which buy both pipeline nitrogen and oxygen from KIG.
The new plant was added to satisfy the rapidly growing demand of
existing flat panel and semiconductor customers -- particularly LG
Philips Limited with whom KIG has recently executed a new long-term
supply agreement. Gumi has the biggest inland industrial complex
mainly for electronics display industry -- also known as 'Display
Mecca' -- and is located about 280 km South of Seoul. -- Completed
the commissioning of a new air separation plant feeding Samsung's
Cheonan TFT-LCD flat panel manufacturing complex. This plant is the
third unit at Cheonan in a series of large, high purity nitrogen
generators serving the growing TFT-LCD flat panel market. KIG is
the exclusive nitrogen supplier to the Samsung manufacturing
complex in Cheonan, which consists of four large-scale TFT-LCD
facilities. -- Begun construction of a third air separation plant
feeding Samsung's memory fab complex in Gihueng, Korea. This plant,
slated for commissioning in two months, will greatly enhance KIG's
pipeline supply to Samsung, particularly for the newly commissioned
300mm facility (Fab 12). KIG has been supplying Samsung at this
site since 1996. "These investments, coupled with our recent
Samsung Tangjung investment, strengthen our position as a leading
supplier to the TFT-LCD markets in Korea," said Mike Hilton, vice
president, Electronics Businesses at Air Products. "Our
relationships and product portfolio are building considerable
momentum that will help us secure new contracts and build new
plants to meet the needs of rapidly growing industries," he added.
***NOTE: This release may contain forward-looking statements.
Actual results could vary materially, due to changes in current
expectations. DATASOURCE: Air Products CONTACT: Media Inquiries:
Katherine Hilgert, +1-610-481-8527, , or Jessica Cheng, (+852)
2863-0585, ; or Investor Inquiries: Alex Masetti, +1-610-481-7461,
, all of Air Products Web site: http://www.airproducts.com/
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